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major problem is Bremner's diagnosis of an unregulated financial sector, which is complete rubbish! The FSA is huge, over 1000 employee's and finance is the most regulated industry in the UK - that was exactly the problem, they did all this at the command of Brown and the BOE

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major problem is Bremner's diagnosis of an unregulated financial sector, which is complete rubbish! The FSA is huge, over 1000 employee's and finance is the most regulated industry in the UK - that was exactly the problem, they did all this at the command of Brown and the BOE

What is the 'all this'? All this lack of regulation?

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major problem is Bremner's diagnosis of an unregulated financial sector, which is complete rubbish! The FSA is huge, over 1000 employee's and finance is the most regulated industry in the UK - that was exactly the problem, they did all this at the command of Brown and the BOE

No, the problem is that the financial services industry gets a bit of deregulation, it turns it into a scheme for scamming the public en masse (Say split-cap, for instance. Or endowments. Or PPI etc. etc. etc). Then regulation has to be imposed to try and stop the scamming, hence the size of the FSA. Then they find a new scam, and more people are ripped off and the politicians have to act again.

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No, the problem is that the financial services industry gets a bit of deregulation, it turns it into a scheme for scamming the public en masse (Say split-cap, for instance. Or endowments. Or PPI etc. etc. etc). Then regulation has to be imposed to try and stop the scamming, hence the size of the FSA. Then they find a new scam, and more people are ripped off and the politicians have to act again.

I'd be happy for less regulation provided it cut both ways. So no BoE as the lender of last resort, no bailouts, no fractional reserve lending and no limited liability.